State of New Jersey Common Pension Fund D Cuts Position in FedEx Co. (NYSE:FDX)

State of New Jersey Common Pension Fund D lessened its position in shares of FedEx Co. (NYSE:FDX) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,959 shares of the shipping service provider’s stock after selling 742 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in FedEx were worth $24,183,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FDX. Exchange Traded Concepts LLC bought a new stake in shares of FedEx in the 3rd quarter valued at approximately $97,000. Creative Planning lifted its stake in shares of FedEx by 15.7% in the 3rd quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after purchasing an additional 11,081 shares during the last quarter. Accurate Wealth Management LLC lifted its stake in shares of FedEx by 64.7% in the 3rd quarter. Accurate Wealth Management LLC now owns 2,017 shares of the shipping service provider’s stock valued at $536,000 after purchasing an additional 792 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of FedEx by 112.0% in the 3rd quarter. Blue Trust Inc. now owns 1,802 shares of the shipping service provider’s stock valued at $540,000 after purchasing an additional 952 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

NYSE FDX opened at $267.83 on Monday. The stock has a market cap of $64.51 billion, a PE ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a fifty day simple moving average of $272.40 and a 200-day simple moving average of $279.08.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 EPS. Equities analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FDX. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their target price for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Raymond James raised their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. BMO Capital Markets boosted their price target on FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Stephens decreased their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Finally, Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insider Activity at FedEx

In related news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This represents a 12.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.